Needham & Company LLC Reaffirms Buy Rating for Veeva Systems (NYSE:VEEV)

Key Points

• Needham & Company LLC reiterated its Buy rating on Veeva Systems and kept a $270 price target, implying about 51% upside from the prior close.
• Veeva’s latest earnings topped expectations, with Q1 EPS of $2.24 and revenue of $882.95 million, both above estimates. Revenue rose 16.3% year over year.
• Despite the positive results and upbeat guidance, the stock fell 2.3% and analysts remain mixed overall, though consensus still stands at Moderate Buy with an average target of $264.04.

Veeva Systems (NYSE:VEEV - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $270.00 price target on the technology company's stock. Needham & Company LLC's price target would indicate a potential upside of 51.10% from the company's previous close.

Several other analysts also recently weighed in on the company. Zacks Research downgraded Veeva Systems from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Citigroup lowered Veeva Systems from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $291.00 to $176.00 in a report on Friday, April 10th. Barclays decreased their price objective on Veeva Systems from $305.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Stifel Nicolaus set a $230.00 price objective on Veeva Systems in a report on Thursday. Finally, Royal Bank Of Canada decreased their price objective on Veeva Systems from $330.00 to $275.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. Seventeen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus price target of $264.04.

Veeva Systems Stock Down 2.3%

Shares of NYSE:VEEV opened at $178.69 on Thursday. The business has a 50 day moving average price of $166.29 and a 200 day moving average price of $196.71. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $310.50. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 0.81 and a beta of 0.95.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. During the same quarter in the prior year, the company earned $1.97 EPS. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Analysts anticipate that Veeva Systems will post 6.45 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the sale, the director owned 3,253 shares of the company's stock, valued at approximately $506,296.92. This trade represents a 18.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.60% of the company's stock.

Hedge Funds Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raiffeisen Bank International AG bought a new position in shares of Veeva Systems during the 3rd quarter worth approximately $28,000. SHP Wealth Management bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $26,000. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. lifted its position in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 100 shares during the period. Finally, Activest Wealth Management lifted its position in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company's stock worth $29,000 after buying an additional 127 shares during the period. Institutional investors own 88.20% of the company's stock.

Veeva Systems News Roundup

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva reported Q1 revenue of about $882.9 million and adjusted EPS of $2.24, both ahead of estimates, showing continued demand and profitability improvement. Veeva Systems (VEEV) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management issued Q2 revenue guidance of roughly $902 million-$905 million and EPS guidance of $2.21-$2.22, both above consensus, signaling confidence in near-term growth. Veeva Announces Fiscal 2027 First Quarter Results
• Positive Sentiment: Veeva highlighted AI innovations during the earnings call, which may support future product adoption and help the company deepen its competitive position in life sciences software. Veeva Systems Inc (VEEV) Q1 2027 Earnings Call Highlights: Surpassing Revenue Guidance and Unveiling AI Innovations
• Neutral Sentiment: Several summaries of the results emphasized that the quarter’s headline numbers were strong, but investors are still parsing the full transcript and details behind the outlook. Veeva Systems Inc. (VEEV) Q1 2027 Earnings Call Transcript
• Negative Sentiment: Despite the beat-and-raise report, some coverage noted the shares slipped after the announcement, suggesting the market may have been positioned for strong results or is focused on valuation and broader market sentiment. Veeva Shares Slip Despite Beating Q1 Estimates: Details

Veeva Systems Company Profile

Veeva Systems NYSE: VEEV is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva's product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.

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